The Lakeland Horticultural Society ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 August 2024 Registered Charity No. 259847
THE LAKELAND HORTICULTURAL SOCIETY Annual Report and Financial Statements for the year ended 31 Au8USt 2024 CONTENTS Page Trustees, Annual Report.. Officers and Trustees of the Society Report from the Chairman of Trustees Financial Report Structure. Governance and Management Activities Achievements and Performance Independent Examinerfs Report li Statement of Financial Acttvities 12 Balance Sheet 13 Notes to the Financial Statements 14-19 Address.. Holehird Gardens Patterdale Road Windermere LA23 INP Registered Charity No. 259847
President Peter Hogsarth Vlce-Presidents John Ashley Christopher Brickell CBE VMH Lord C8vendish of Furness DL John Davenport Lady Cressida Inglewood, Counte55 of Lonsdale John D Main NDH DHE FIHort Shelagh Newman Margaiet Thomas Shelagh Todd Councll of Trustees Officers: Chairrnan: Maggie Mees Vice-chairfftan: Alan Gerrard Garden Coordinator: vocont Hon Secretary: Sue Buckingham Hon Treasurer: rony Willey Members: Pauline Aldous Charles Bulman Sarah Burgess Hayley Davidson Alan Dickinson Lorna Hillmann Alison Sanford Stephen Sharp Registered Charity No. 259847
Report from tho Chaimian of Trustees - Maggie Mees Despite challenging weather conditions for much of the year, Holehird Gardens delighted visitors again in 2024. Visitors continue to tell us how much they enjoy visiting the garden year round and once again they showed their affection for Holehird and the appreciation of the efforts of all our volunteers by voling us RHS Partner Garden of the Year for the North of England and Northem Ireland. Regular mentions of Holehird in the RHS magazine and on their website, as well as a recent podcasl. have no doubt encouraged many RHS members and other garden enthusiasts to visit Holehird and to spread the word about the delights lo be found there. The growth of social media is also bringing visitors who may not necessarily have a particular interest in gardening but who have been lold that Holehird provides a 'good day out, _ and it is free to enterl A growing Challenge for us is to ensure that all visitors appreciate the true cost of maintaining the garden at the level we, and they, wish to see, and the extent to which we rely on visitor donations to do so. The reports from our Committee Chairs which follow indicate the range of activities carried out by our LHS volunteers. The amount, and often the complexity, of work undertaken by our small band of volunteers, and the commitment shown by them is astonishing and a credit to all. People volunt&r at Holehird for a variety of reasons but we all find il satisfying in one way or another. And yet we are constantly in need of more volunteers in all areas. Despite a steady trickle of new, and younger, volunteers the ageing profile of our volunteer base means that we struggle at times to cover all that needs to be done. Unless we can address the shortage of manpower by recruiting a substantial cohort of new volunteers in the near future, we may find we have to rely on external contractors to help out more than we have done in the past. Thi5 is my last report as Chair of the LHS having been in post for 3 years, and after a total of 13 years on council. The burden of managing an increasing workload with a shrinking workforce falls on the Council of trustees, and the current Council deserve all our thanks for the way in which they willingly take on that role. At a personal level, I thank them for their support over the lasl 3 years which has undoubtedly made my role easier. l am delighted that Alan Gerrard has agreed to be nominated to replace me as Chaimian. Alan's professional and volunlary background will be invaluable to the Society in the coming years, and his practical experience of working in the garden at Holehird mean5 he is close to the needs of our volunteers, so crucial to the future of the LHS. Mark English resigned from Council earlier in the year due to increasing work commitmenls, while two other trustees, Charlie Bulman and Alan Dickinson. will also sland down after this meeting. All three provided valuable contributions over the years and Iheir input on Council will be missed, although I know they all intend to continue to support LHS in other ways. In addition to Alan Gerrard's nomination to Council, Wendy Thwaite has also been nominated to become a trustee. Including myself, therefore, 4 people will stand down whi18 only 2 new trustees will be appointed. While Ihe size of Ihe new Council will still be within the parameters demanded by the Constitution, it does leave the Society's decision-making body sadly depleted, and increases even further the burden on those who make up the Council of trLSStees. For the LHS to continue to thrive. which is surely what we all want, we need more members to contribute to the running of the Society. We need a lot of people each doing a bit, rather Ihan a few people trying to do everything. That was my message to the AGM immediately after I was appointed as Chair in 2021 and. sadly, it has not chan9ed. Registered ChariEy No. 259847
I still believe, as I said then, that "by being involved in, and taking some responsibility for, the running of the Society. you really do develop a greater appreciation of the fantastic work that we all do in the LHS and I would recommend it to everybody.. Treasurer'5 Report- Tony Willey The Society's aim is to fund ongoing expenditure from current income and Ihis has been achieved with an operating surplus of £24,000. Cosls have increased by around 100/0, mainly due to additional tree maintenance following the winter storms and the increasing cost of maintaining our ageing infrastructure. This wa5 offset by £30.000 of interest income thanks to the current high rates, and a backdated increase in the Trust contribution arising from the inflation provisions of the lease. Income from visitors remains stable but there has been no increase in the requested donation since 2018. Inftalion has eroded the value of this income and the requested donation will be increased from £5 to £6 for the 2025 season. It is expected that our ability to balance income and expenditure will become more difficult in future. Planned caprtal expenditure will reduce interest income as will the current softening of interest rates, there is uncertainty around the level of Ihe contribution from the Trust for maintenance of the areas outside the lease once the sale of the mansion is ¢ompleled and we have yet to feel the full impact of high inflation in recent years. Fortunately our cash reserves of around £700,000 will act as a cushion for some time. Last year's AGM had lo be rescheduled due to appalling weather. not the firsl time this has happened in recent year5. To avoid this in future it is proposed that our reporting year end will be moved to 31st Dernber, wilh the membership year following suit. This move ha5 other advantages. It will eliminate the need for an expensive summer mailing of Council nomination forms and analysis of annual data will comprise a ¢omplete single sea50n. Last bul not least it will move the Treasurer's and Secretary's year end workload to JanuarylFebruary when there are fewer competing priorities. Structure, Governance and Management The Society is a registered charity governed by a constitution approved by the membership, and last modified by the AGM of December 2021. Its objects are to promote and develop the science, pradice and art of horticulture, with special referen to the conditions prevailing in the Lake District, and within that area to promote and facilitate cooperation between all horticultural organisations and to serve the interests of all horticulturalists. The management and administration of the Society is conducted by its Council. whose members are Trustees of the Charity. The Council comprises five Honorary Officers of the Society, and up to twelve elected Members. The Officers consist of the Chairman, the Vice- Chairman, the Garden Coordinator, the Secretary and the Treasurer. The current members of the Council are set out on page 3. Day-to-day management is devolved to five sub-committees-. Garden. Estates, Education. Publications, and Public Relations These are governed by Standing Orders which are reviewed annually, and were last approved in October 2022. Registered Charity No. 259847
Officers are elected al each Annual General Meeting (AGMI having, with their consent, been nominated and seconded in writing by member5 of the Society. They hold office until the end of the next AGM. They may be nominated for re-election but may nol serve for more than six consecutive years in any one office. Elected Members having, with their consent, been nominated and seconded in writing by members, are elected at an AGM to serve a three-year term. They may be nominated for re-election, bul may not serve for more than consecutive terms. Members of Council do not recetve any payment in Connection with their position. The Society operales an informal system of Trustee induction, tailored to fit the experience of the trustee. All new trustees are given a copy of all the relevant Charity Commission documents, as well as the names and contact details of their fellow trustees. All the work of the Society is carried out by volunteers and is funded through members. subscriptions, legacies, donations. the sale of plants from the garden, and the sale of refreshments and publications written and designed by members. Financial Review On the basis of their review of ftjture years. activities, and a detailed budget for the following year, Council are satisfied with the financial position at 31 August 2024. The poliGy on ReseNes, the reason why they are held and their inlended use, is set out in Note 10 to the Accounts. Activities Garden The Society manages the renowned garden at Holehird which is open lo the public every day of the year. This is a 10 acre garden on a hillside site near Windermere, 600 feel above sea level. The garden regularly reiVeS up to 30.000 visitors each year. and although no formal charge is made for access, visitors are invited to make a donation. The gardens are developed and maintained to the highest standards. providing the public with practical examples of design, propagation, plant maintenance and horticultural practice in relation to specific Lake District location and climalic conditions. In various parts of the garden trees, shrubs, herbaouS perennia15, bulbs and alpines are grown. The Society also acts as the International Registration Authority for Astilbe on behalf of the International Society for Horlicultural Science, and hosts the National plant collections of Astilbe, Daboecia {heathers), Hosta 'Mouse' Series. Meconopsis (the blue poppy}, Polystichum {fernsl and Tana¢etum coccineurn (painted daisies). Education Gardening courses and lectures are held throughout the year, given by members of the Society and outside experts. Our volunteers act as garden guides for the many tour groups thal visit Holehird, and also give a considerable number of horticultural lectures to other groups. A well-stocked libiary and ddIng room. equipped with PCS and several Registered Charity No. 259847
microscopes, including a new high-powered model, is also available to all members, and a series of horticultural leaflets is available to the public on particular species that are grown in the garden, including Ihe Nab'onal Collections. We also have our own weather station which helps us understand the effect of varying climate on the perf0rnan of the plants in the garden. The weather record5 are available online to individuals and other organisations. Media The website, www.holehirdgardens.org.uk, shares the Society's knowledge and aGtivities online, while "The Lakeland Gardenerf. the Journal of the Lakeland Horticultural Society, serves the same purpose in print. The Society also publishes a regular Newsletferfor its members. The Society has a growing presence on social media. Access for all Within the inevitable constraints imposed by a fellside garden. the Society aims to ensure that anyone with an interest in horticulture and gardening can benefit from its work, whatever their means and limitations. Wardens are on duty daity from April lo October in the Visitor Information area lo welcome the public and answer questions regarding the gardens, either directly or by introducing visitors to other members of the Society. The Trustees confirm that they have complied with the duty in s17 of the Charities Act 2011 to have regards to the Charity Commission's guidance on public benefit. Achievements and Perfomiance The weather has been a bit of a feature this year. A series of winter storms caused considerable damage to trees and shrubs. Most noticeably. an ancient Magnolia soulangeana 'Alba' on the Fellside was splayed apart by snow and winds and an Oak tree near to the entrance gates had lo be felled after it had been damaged lce by strong winds. Several large branches of laurels came down over the main road and had to be cleared. the remaining laurels have been coppiced to prevent this occurring again. Two small trees in the Puidom Bed were blown over, several Camellias were damaged, along with a Prunus in the lower gardens and a Viburnum near lo the gates. The other weather feature has been the rain. an extraordinary amount Df rain. Some plants have loved the rainfall, especially the spring and eady summer flowering shrubs {Rhododendrons, Camellias. etc.). The daffodils in the narcissus meadow and the National Colledion of Astilbes both put on a splendid display. Other plants have nol fared so well, some of the spring bulbs flowered for shorter periods than usual le.g. tulips in the Walled Garden). However, despite the rain, the garden has provided our visitors with a wonderful display of colourful planting throughout the year. This is entirely due to the work of our volunteer gardeners, propagators and the rna1ntenan work forces (the Heavy Gang and Estate teams), who deserve considerable praise for their efforts in all sorts of weather conditions. At least we did not have a drought this summerl As well as dealing wth storm damage. other planned tree work has been completed. This includes the felling of 4 diseased Larch trees in the Shelter Belt, the removal of a dead Acer Registered Charity No. 259847
on the fellside. a fallen Prunus in the South Woods. a Cypress near to the Cascade, and (most sadly} the dead Magnolia Caerhay's surise in the Walled Garden. A replacement for this Magnolia is now being arranged and we hope to plant it very soon. In addition, 6 other tre8s have been planted during the year, filling in the gaps left earlier in the year. On top of the general mainlenance ofthe gardens (which is a major achievement in itselfj, several improvements have been made. For example: six Camellias were removed from the Fuchsia Bed and have been replanted in the Paddock, to form a hedge to protect the National Collection of Meconopsis-. the removal of several large plants has opened up the views of the Cascade, and the Conservatory end of the Potting Shed has been renovated improving conditions for propagation of alpines and shrubs. In addition, a new RHS trial was started in the spring, based on two different types of Primulas. Following last yearfs AGM, the Estate Committee's volunteers and those of the Heavy Gang were combined into one team for the firsl time. The garden's infrastructure and buildings are now showing their age, providing a significant challenge for the team. We urgently need new volunteers to assist with the many tasks that need to be done. For most of the winter the volunteers were busy clearing the damage left by a series of storms. The deer fence to the north of the Lower Drive collapsed during Ihis period and has been replaced. In addition, three projects were undertaken over the winter. Repairs to the retaining wall, stream Channel and upper footpath around the Rock Pool Bed were ompleted. In the southern end of the potting shed the team stripped out the old benches, repainted the walls and installed an underfloor drainage system and new aluminium benches. The retaining wall in the Small Car Park was rebuilt. New coping stones lo match those used during last year's footpath project were sourced and have been installed on lop of the wall. We are suffering from significant problems with the drainage of the estate. The system is probably over 100 years old. with later additions. Much of the system is uncharted and very difficult to maintain. Significant flooding to the Walled Garden occurred over the Christma5 and New Year Period. The failure in the drainage system which caused this was identified and repaired. As a result of this and other areas of flooding. we employed a specialist ontractor to map and survey the condition of parts of the Holehird drainage system. This has helped us to idenlity necessary upgrades to the existing pipework. Due to the complexity and exlent of Ihe existing drainage, this will be an ongoing process of survey and repair over the coming years. There has been less demand for water this year because of the high rainfall experienced in Cumbria Water meters have now been installed on both the United Utilities supply and that from the borehole. Average daily watef consumption this year is 2,900 litres with the highest requirements being 14,000 litres in a day this year. This is much reduced from last year's highest recorded day of 23.000 litres. A successful team effort was employed to cut down. remove the roots and shred Ihe branches of a large conifer hedge in the paddock. This was replaced by a camelia hedge created with planls taken from other areas of the garden. Several shrubs have been cut down in different locations around the garden and their roots pulled out. Shrubs on the Lower Drive and around the mansion have been cut back extensivety. Registered Charlty No. 259847
After nearly 40 years of ownership LHS replaced the Kubota B4200 tractor with a new machine. The Irade-in value was probably only a little less than the original cost of the machinel We hope the new Kubota B1181 has an equally long and faithful life. The LHS has made a significant investment and brought the estate's electrical wiring syslems UP to current standards. A Fire Risk Assessment has been carried oul and the variou5 recommended additional measures have been put in place. Improvements lo the visitor loilets. including a new members. disabled toilet are due to ommence in October. This work will include removal of asbestos by a specialist contractor and extensive replacement and repairs of the existing slate roof. It is planned that the works will be completed to coincide with the start of the new season in early April 2025 The newly structured Education Committee has divided work into more manageable subdivisions by increasing the size of the team. The library continues to be highly regarded due lo its huge range of topics linked lo horticulture and usage has increased again this year. A new printer has been installed and the new WiFi network allows more connectivity. A range of plants have been propagated and provided for Ihe five Garden Trails we publish. It's been a popular year for garden trails that are available in the external Containers as well as when reption is open. We are hoping to use the winter as an opportunity to update and modernise some of the trails along with some of our regular visitors from nearby schools. The external infomiation boards continue to gtve visilors information about our soil and weather as well as our National Collections and Plant of the Month. The audio-visual team have been trialling recording of the mini lectures in preference to a hybrid Zoom and live audien participation. These are posted to the members, area of the website for viewing. This allows members to access the lectures from home at a date and time convenient to them. There were three popular lectures in the first quarter of the year. In January Alan 0aaY filled in at short notice for a late cancellation and talked about his trip to Oregon. February's lecture was given by the Head gardener at Lowther Castle, Andrea Brusendorf, while March saw Shelagh Todd talk about Cumbria in Bloom. All three lectures were well attended. The Marchesi Centre continues to be an ideal pla to hold the main lecture programme. Courses on 'Designing with Plants, and 'Picture Perfect Plants, were held at Holehird earlier this year and we hope to continue to offer these courses, despite the demise of NR Training next year. In house courses on Lichens. Tree identification and Seed cleaning have proved very popular. Other popular activities this year were the Tour of Gardens of Northern Ireland, and more locally a guided tour of Lowther, wilh their head Gardener, organised by one of our team. The Holehird Gardens website shows the wide range ofwork done by members of the at Holehird and beyond. Our social media presence continues lo grow across all platforms and raises the profile of Holehird Gardens across the worldl Our visitors love sharing their photos and collaborating with us on posts. Registered Charity No. 259847
During the 2024 season, the Reception Team recorded about 2500 visitors per month. In addition there would have been a substantial number of visitors outside reception hours. The work of welcoming visitors has been done by a core group of about 50 Wardens, from a nominal list of 78 Wardens. During the summer monlhs, ReptIOn has been open most days. Up to time of writing, over 2000 hot drinks have been sold with a notable increase in Hol Chocolate, probably caused by the generally poor weather. The PR Team also made arrangements for the two days on which the Gardens were open for the National Garden Scheme. There were more visitors for'Daffodil Day. in April 2024 when the date coincided with a good display of daffodils and other spring colour. The open day in Juty attracted relatively few visitors. maybe because it coincided with the General Election. The Committee was supportive of withdrawal from the NGS. 35 Group Visits were booked during 2024. This number of visits is similar to previous years but Ihe size of groups has redUd significantly. Paul Desborough's help in finding volunteers to lead guided tours has been appreciated. The free provision of specially printed plastic carrier bags to those buying plants from the Plant Sale area was stopped when the existing supply ran out, since il did not seem consistent with current ecological standards. A small supply of plain plastic carriers has inslead been made available at a charge of 10p each. The take-up has been very small, suggesting the carriers are not missed. Membership numbers are broadly steady at 1359 at the beginning of September 2024, compared with 1376 at the beginning of September 2023. 88 new members were recruited although we sadly lost a number of long standing older members. A New Members Afternoon wa5 held in April 2024. The membership team are standing by to work through the possible Ghange lo the membership year following the AGM. The Catering Team has continued to provide refreshments for our volunteers and has been successful in continuing to recruit sufficient volunteers to carry out its work. Steve Mees has this year taken over as editor of The Lakeland Gardener. The journal has been published in spring and autumn as normal. Thanks are due to all members of the Committee who kept things running during the interim period. All other publications have been put on hold, mainly because of lack of slorage space during building works. We will be looking at any items which are urgently needed for sale when we reopen next year. The Newsletter has continued to be published Ihree times a year. There is a new Membership Card which everyone should now have received. The Trustees, Annual report was adopted by Council at its meeting on 8 October 2024 and signed on its behalf by Maggie Mees- Chairman Tony wilY- Treasurer Re8lStered Charity No. 259847 io
Independent Examinerfs Report to the Trustees of the Lakeland Horticultural Society I report to the charity trustees on my examination of Ihe accounts of the charity for the year ended 31 August 2024 which are Set out on pages 12 to 19. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation ofthe accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examinalion I have followed all the applicable Directions given by the Charity Commission under section 145(5}(b) of the Act. Independent examinerfs slatsment I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me Gause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not Comply wtth these records., or the accounts do not comply with the applicab requirements conceming the form and content of accounts set out in the Charities (Accounls and Reports) Regulations 2008 other Ihan any requirement Ihat the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have Gome across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. J Sissons Chartered Accountant Waters and Atkinson The Old Court House Clark Street Morecambe LA4 SHR Date?41 IOIL4 Regislered Charity No. 259847 li
STATEMENT OF FINANCIAL ACTIVITIES In¢omlng R¢sourc85 Nole UniestrirAed nds Resirided frjnds 2024 2023 Totsl Total (Note 21 Voluntary income 90.632 32,664 123,296 27fj,193 Other charitable income 19.861 19.861 20.973 Investment income 30.291 30.291 20,927 Tolal incorning resources 173.448 318,093 Resou05 Expermled Garden and Eaie maintenan 62.648 32.664 95,310 86.387 Other charitable expiditu 9,9)7 9,907 10,643 Adminislralion cost5 27.397 27,397 25.687 Depwation 11 13,4r4) 13,460 11,522 GovernanrA costs 3.171 3,171 2,408 Total resources expended 149.245 136,647 Not incoming resou¢$ 24.203 181,446 GainllLoss} on Investrnents 12 12,5231 Accumulated FuThJs BFwd 814.190 635,2fj7 Ac¢umulated Funds CIFwd at 31 Au9YSt 2024 10 838.393 814,190 There are no other gains & losses olher than those disclosed above. All transactions are derived from onlinuing aclivilies. The Notes on pages 14 to 19 form part of these financkAI statements. Registered Charity No. 259847 12
BALANCE SHEET As at 31 August 2024 Notg 2024 2023 FIXED ASSETS Tangible assets 11 145.111 131.784 Inve$irnents 12 145,111 131,784 CURRENT ASSETS SIDck 1,961 2.304 Accrued interest on bank deposits 20,280 15.892 Other debtLifs 353 169 Cash al bank 13 681.809 671.064 704.403 689.429 CREDITORS- amounts falling due wthin one year 14 111,1211 17,0231 NET CURRENT ASSETS 693,282 882,406 NET ASSETS 838,393 814,190 CAPITAL FUNDS Restricted lunds 4,000 Unrestricted funds 834.393 810,1 TOTALACCUMULATED FUNDS 10 838.393 814.190 These financial ststemenls have been Prepared in accordance with the Financial Reporting Standard applicable In the UK IFRS 1021 and the Accountsng and Reporbng by Charilies. Slalemenl ol Recornmended Practice applieable lo Charities (Charities SORP IFRS 102}l. They were approved by Council on 8 OGlober 2024 and are signed on their behalf by Maggie Mees- Chairmarn Tony Willey-Treasurer The Notes on pages 14 to 19 form part of these financial 5t3tements. Registered Charity No. 259847 13
NOTES TO THE FINANCIAL STATEMENTS Accounting Policles Basis of preparation The financial statements of the Charity are prepared under the historical cost convention with the exception of inve5tmen15, which are included at market value. They have been prepared in accordance with the Charities Act 2011, the Financial Reporting Standard appli¢able in the UK IFRS 1021, and the Accwnling and Reporting by Charitie5' Statement of Recommended Practice applicable to charities (Charities SORP IFRS 102)) The Charity is a public benefit entrty under FRS 102, its presentation currency is Sterling (rounded to the nearest £1). The Trustees believe the Society is a going-concern. and have prepared the financial statements on that basis. In¢oming resource5 Incoming resources represent total income receivable during the year, and comprise membership subscription5, donalions, legacies, InMe from educational activities. investment income and sundry other income. Resour¢es expended Al expenditure is accounted for on an accruals basis. Charitable expenditure represents the c05t of maintaining the estate and garden, suentific. education and edf(orial aclivrfties. Support service5 represent membership costs, and costs relating lo the general running of the Society. Governance 08ts include those incurred in meeting constitutional and statutory requirements. and the preparation of the financial statements. Iv) Tangible fixed assets and depre¢iation Tangible fixed assets are staled at cost. Depreciation is calculaled lo write off that cost over Ihe expected useful life of each asset. as follows." Leasehold land and building costs prior lo 3151 May 2020, the expiry date of the previous lease, have been fully depreciated. Additions since that dale are depreciated on a straight line basis to 31st March 2046, the expiry date of the current lease. Fixtures and fillings are written down lo a nominal value in the year of acquisition.. Glasshouses are depreciated on a linear basis over ten years.. and Machinery, vehicles and equipment are depreciated on a linear basis over five years. Investments Investments are slated at market value. and revaluation gains and losses are included in the statement of Financial Activities. Stock Stock is valued at the lower of cost and net realisable value. It relales to books and publications held for sale to members and visitors. It doe5 not inclvde plants or any work in progress. vii) Creditors Short-lerm creditors are valued at their transaclion price. viiil Taxation The Society is exempt from corporation tax. Reserves The policy on Accumulated Funds held as Reserves is set oul in Note 10 to the FinanGial statements. Registered Charity No. 259847 14
NOTES TO THE FINANCIAL STATEMENTS l¢ont.) Restricted and Unrestricted Funds The Society has entered into an agreemenl with the Holehird Tru* for the upkeep of those parts of the gardens outside its lease. This income of £32,664 Can only be spent on these activities. The Mary Miles endowment of £4.000 can be spent only in exlremis. This is disclosed separately on the Balance Sheet as Restricted Funds. There are no restrictions on any other income. Voluntary In¢omo 2024 2023 ReslfiCt8d dDnatio (the Hokhifd Trust- Note 21 32,664 23.000 Othpr donations 59.269 223.062 Membership subscriptions 22,627 22.298 Gift aid reclaimed 8.736 7,833 123,296 276.193 other charitable income Plant sales 14,338 15.245 Vending Thachine sales 4,002 3.064 Lès$." Cost ol vtr¥JiJ)g machine suppl5 11,51 11,5781 2,487 1,486 Sales of stationery. guide5 and book5 1.576 1,9g2 Advertisin9 sales in Society Joumal 950 2,250 Income from educaiK+nal courses 510 19,861 20,973 Investment inGome Interest Qn bank deFosits 30,291 20,927 Registered Charity No. 259847 15
NOTES TO THE FINANCIAL STATEMENTS (conL) Garden and Estate maintenan¢9 2024 2023 Garden maintenance 28.7Sfl 35.423 Plants purcha$gd 8.599 12.486 Estate maintenanee 59.921 38,478 95.310 88.387 Other Charitable expendlture Costs of pubfjshing Joumal and Newsktters 5.858 6,217 Cost of guides and books 1.476 1,918 Cour5e5. bursaries and lectures 2,573 2,508 9.7 10,643 Adrnlnlstratlon cost Membership administrztion 9.017 7,727 Insurance 7.468 6,431 Publicity and Open Day 407 2.607 Website and IT costs 1.839 1.765 Other 7.157 27.397 25,687 Governancè costs Independent Examinaiiov CD5ts 1,840 AGM costs 1,171 568 3,171 2.408 Registered Charity No. 259847 16
NOTES TO THE FINANCIAL STATEMENTS (cont) 10. A¢¢umulat•d Funds In accordance with guidance i%sued by the Charities Cornm)n, the Trustees have considered whether it Ss approwiale lor the Society to retain fund5 for futu CarItab actwities. Commitments have been made for 5vJnificant caprtal expendilure15ee note 151. This will r65uIt a substsntial redl)n in cash 8¥t$. A further rleW will lake place when ¢he$o Gapital projects are Complete. 11. Tan9lble fixod •$$ts Leasehohj Fixlure5 & Machinery, GLgs$houses Total Land & Fiitings Vehides & Buildings Equipment Cost At 31 Augu¥t 2023 493.472 20.539 101,089 175.557 790.657 Addilions 15,362 11,425 26,787 At 31 August 2024 508.834 20.539 112,514 175,557 817.444 Oepreciabon At 31 August 2023 371,868 20.539 90.909 175,557 658.873 Charge lor the year 7.376 13.460 At 31 August 2024 377.952 20,539 98.285 175.557 672,333 Nel Book Value At 31 Augus12024 130.882 14,229 145.111 At 31 August 2023 121.C64 10.180 131.784 Registered Charity No. 259847 17
NOTES TO THE FINANCIAL STATEMENTS IconLI 12. Flx¢d asset iFNe$tments 2024 2023 Balance ai 31 August 2023 100,913 Rèvaluation gairthos51 12.5231 Proceeds of sale 198,3901 Balance ai 31 Augu512024 The Trustees. investment polKy allow¥ an investment ol up to 15% 01 Ihe total avaiLgble cash in the Charilies InVestrrt Fund ICOIFI $plil equally betsveen accumulatK)n and income units. These investments We sold in August 2023 and the resulting loss of £2.52312022.. loss 01 £3,940) Is 1nduded in the Stalement ol Financial ActNitie$. Cash at bank The Trustee$, Investment ptslity is, as far 35 PJ55ik4e. to rna15e ihe return on Ihe Sotsety'5 investments. Within this. the Government guarantee of £85.000 ac15 as a ceiling lor fvnd5 invested in any one ffinartial insb"tubon. This policy, and the actual inveslmenis with each InstitUtn 15 rewewed every hvelve months. Cash at bank includes deposits wilh BuildiThJ Socielies reguL8led underthe Prudenlial RegulatioTh Authority Ipart of the Bank of Eng18ndl and the Financial Conduct Authonty- DeposNS have been 1h a maturity of bett¥een six months and Iw) years. 14. Credltors 2024 2023 EKaminerfs Fee 2.000 1.800 Trade eredrtors 9,121 5.223 11,121 7.023 All 8rnounls are payaNe wthin one year. Registered Charity No. 259847 18
NOTES TO THE FINANCIAL STATEMENTS {conLI 15. Commitments 2024 2023 Building imp¥o¥ernents 190.569 190.569 16. Trustee Remuneratyon No rsmuneration was paid to Tw5tees12023.' nli l and Ihere were no exynses in their roles as trustees12023.' 17. Related Party Transactions There were no transactn3 wth related part*512023-. none) Registered Charity No. 259847 19